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Mantra Group, a leading deeptech company specialising in identity, security, computer vision and AI solutions, has raised about $14 million (Rs 125 crore) in its first institutional funding round. The investment was led by India SME Fund II with participation from Motilal Oswal Principal Investments. Hiren Bhandari, co-Founder, Mantra Group said the investment will fuel the next phase of innovation and expansion as the company plans to double spend on R&D, patents and IP creation. The company will establish a Center of Excellence for AI and Computer Vision, and scale DSIR-approved R&D and while accelerating new product development, he said. Bhavyen Bhandari, co-Founder, Mantra Group, said the company’s footprint is well-established, with over 20 of India’s top 100 corporates using the enterprise stack for workforce management and access control. The company plans to expand these solutions to more airports across India and internationally, while scaling enterprise deployments throughout West Asia, he added. Mitin Jain, Founder and Managing Director, India SME Fund, stated that the heritage in National ID programs and security solutions deployments, coupled with their technology leadership, positions the company strongly for global scale. “Our capital and partnership approach will further empower their growth and product innovation,” he said. Published on November 4, 2025
